Unfortunately doing some consultations it seems that to continue receiving money from Bitalo and thus sending next refunds I will need to set up a legal entity that will handle that. Failing to do so and just sending money "over the counter" could ultimately lead to tax office noticing it and me ending up in trouble, which also would mean no further payouts, which we all don't want. I already sent ~40000 EUR worth of payouts, which is probably already too much if I'll get on polish IRS's crosshair.

I'm currently in process in setting up a small private company that will handle that. Guys from Bitalo are very helpful in that manner and I hope that in next few weeks this process will be completed. The payout process will then be resumed. Until then I'm sorry, but I cannot send any more refunds. I will update everyone as soon as this is resolved.

Unfortunately doing some consultations it seems that to continue receiving money from Bitalo and thus sending next refunds I will need to set up a legal entity that will handle that. Failing to do so and just sending money "over the counter" could ultimately lead to tax office noticing it and me ending up in trouble, which also would mean no further payouts, which we all don't want. I already sent ~40000 EUR worth of payouts, which is probably already too much if I'll get on polish IRS's crosshair.

I'm currently in process in setting up a small private company that will handle that. Guys from Bitalo are very helpful in that manner and I hope that in next few weeks this process will be completed. The payout process will then be resumed. Until then I'm sorry, but I cannot send any more refunds. I will update everyone as soon as this is resolved.

Its fair to say thats over and done with. Just another two Polish con-artist who got away with running of into the sunset with 18787.72139217 costumer Bitcoins. Maciej Trębacz aka "M4v3R, maver" only took the blame and responsibility because he has no assets.Paweł Makulski aka "Makhul" was the owner and in charge of the exchange when they gambled costumer funds away.

During the last few months I have come to realise that I do not have enough time anymore to remain involved in running the BitMarket.eu website efficiently. Some of you probably noticed that some of the emails waited for at least few days (sometimes weeks) to be answered, not to mention verifying of new users (and not for the first time). I don't want to ruin all the hard work we have put into this project.

I have been co-running BitMarket for nearly two years now, free of charge and dedicating a lot of my spare time into it. Unfortunately I have no time anymore to provide an acceptable level of support and service. I got real busy with my full time job and also my wife is now expecting a child so I will even be busier. I would also like to focus on promoting Bitcoin in Ireland. Therefore I have decided to step-down and transfer the ownership of the bitmarket.eu domain, hosting, SSL certs and all other associated services onto my trusted partner M4v3r (who has always been a co-owner of BitMarket anyway and is responsible for its robust code). Thus, from this very moment M4v3r becomes the sole owner of BitMarket.eu and also becomes responsible for the maintenance, support and security of the site. I know for a fact that M4v3r will be able to dedicate far more time into development of the site from now on and some new features are coming up soon.

It has been an amazing journey for me and I am proud that we have provided a robust and trustworthy service and unlike most of our competition, never experienced a break-in. Your coins have always remained safe with us and that’s all thanks to M4v3r’s coding skills. I would like to thank all the people who decided to use the site and put their trust in us. I myself have been and will keep on using BitMarket as my main BitCoin trading platform.

Please note that I no longer have access to the BitMarket admin email or the admin panel, so please do not contact me anymore regarding any BitMarket issues.

Regards,Mahkul

If Bitcoinica shut up shop or not did not matter, it just fitted nicely for them to offload the blame. At the time they where short but price was rising. So they gambled the coins away and the default of Bitcoinica just came in handy. The coins where gone one way or another. From August to December the exchange just run a fractional reserve system.

Its fair to say thats over and done with. Just another two Polish con-artist who got away with running away with costumer funds. Maciej Trębacz aka "M4v3R" only took the blame and responsibility because hes got no assets.Paweł Makulski aka "Makhul" was the owner and in charge of the exchange when the gambled costumer funds away. Bitcoinica got hacked in May 12 and lost money again on July 13 well before Makhul distanced himself from the exchange on August 9. https://bitcointalk.org/index.php?topic=5441.msg1088253#msg1088253If Bitcoinica shut up shop or not did not matter, it just fitted in nicely for them to offload the blame. At the time they where short but price was rising. So they gambled the coins away and the default of Bitcoinica just came in handy. The coins where gone one way or another. From August to December the exchange just run a fractional reserve system.